Member Info for redbeast

Following my previous post and a glass of wine we may see the share price rise tomorrow as we now have funding through end of 2015 if not Q1 2016 by which time the capex to build the mine should have been resolved. Maybe good news rather than bad. End

Told you they would be running out of funds shortly. Hope share price does not retreat too much. Guess they have investors in place following recent trip to Europe and USA. All we can do is hang on for the moment. Happy New Year michael.

Understand resource upgrade delayed from December until early Jan. Perhaps next couple of weeks. PEA still scheduled for Q1 but would not be surprised if delayed by a month or so.

Thanks for update Well done

So where is the resource update promised before Xmas ?. Only 3 days to go but investors and institutions away from their desks for the holiday period. Hopefully delayed until first week of January. What chance PEA completed by end Q1 ? Unlikely in my opinion. If price continues to slide just keep buying and hopefully it will not all end in tears!

Good analysis as always But AMA state they only have funding through PEA in Q1 2015 So where is the funding post April, Unlikely to achieve joint venture or takeover in timeframe. Small rights issue or placing to keep things ticking over?. All very problematic As yourself I have as complete confidence in management. Agree 45 -60p takeover in due course most likely scenario, but could be 30p depending on gold price but that would be a steal.

You have been very quiet this past year. Are you still with us? Would appreciate your analysis of current situation cheers michael frost

AMA have said they are considering all options for funding but have ruled out a rights issue at the current share price. They are also not keen on going down the royalty route. So that leaves farm-in, joint venture or take-over unless Peter (finance director) whom has been buying strongly recently pulls off a master stroke with banks or private consortium! Worth waiting to find out in the next 12 months as Montana67 said below.

Many have asked why AMA seems off investors radar. I have dug deep into AMA research reports from US brokers. All say AMA is highly speculative and give a 'Wait' recommendation. They see AMA as one of many junior explorers in a 'cash burn' situation with new funding required in 2015 but with no indication from AMA as how this will be achieved. Also ,although the Yourre Central Zone is proving high grades the average grade for the site is only 1.6 which they say will be unattractive to senior miners other than perhaps overseas companies that may wish to have a stake in W Africa. AMA counteract this by saying grade is not the full story, IRR and cash costs are the main drivers. So there we are, wait and miss out or invest and take a risk on future funding. With my holding of 500K+ shares I am confident AMA will deliver.

They will need to raise more funding, perhaps £15 - £20M to complete the bankable feasibility study. This would prove beyond any doubt the economics and gold reserves of the project. A joint venture or other means of funding should be easy to acquire to build the mine and commence production.

Well, you have got your answer, if you accept Investors Chronicle opinion

No problem. Just forget about it and watch share price in future. May go down short term but long term looks good

No, You have to opt to take up the new shares you have been allocated and pay for them at 17pence per share by 07 April.. If you choose this option make sure you have the required funds with your broker by 07 April

You have the option to buy 1 new share directly from the company (no stamp duty, no dealing charge) for every nine shares you held on 24 March at a price of 17pence. This is the same price as placed with institutions so gives us a chance to participate at the same price and not be left out of the placing. If you have 10,000 shares on 24 March you have been allocated 10000/9 = 1111 new shares. You can do nothing and your share holding will remain the same but you will own slightly less of the company than had you taken up the offer. You can also apply for more shares than your entitlement or less shares than your entitlement.. The cash raised from the placing and subscription will fund AMA through Yourre bankable study. I am told that there is little dilution as the money raised goes straight to the balance sheet as money in hand. This is just a chance to buy more shares at 17pence along with the big boys. Maybe you can buy shares cheaper, maybe not ,but buying in the open market (second hand shares) will not help the balance sheet and onward growth. Your choice. I have taken up my allocation of subscription shares even though I could buy a fraction cheaper in the market today. Your choice

Do you see anyway AMA can continue Samsung partnership after current deal ends this July given little or no gold production in 2015? Maybe this wqas discussed at your meeting. What is your view on taking up free offer at 17p when can buy today at 16.15p = have they missjudged the market or perhaps just an olive leaf to private investors so we do not feel ignored.? Your opinion always appreciated

Can anybody tell me why someone would buy just 15 shares for a cost of £3 and 72 shares for £14 (14..29 and 14.30 today) What about dealing charges Maybe reinvestment of dividends from another share, Any thoughts ? Oldstockbroker may have the answer

Many thanks for update. Any info on developments at BOH and plans to start production? I still see a major gap in production between Sega and BOH producing gold. We shall then be an explorer and not a producer/explorer Good news is share price hit 19 today and with road show on the cards should hit 20p. With 515,000 shares at 21,2p average pretty critical for me! Will sleep better tonight Well done

There is an interview with John M on the minesite.com website. All very positive and talk of joint venture and Samsung continued funding leaving AMA with only about $100M funding to find to build mine. Have a read

You read my account of the investors evening. 55 attendees most of whom were analysts or brokers for the 3 companies presenting. Very few if any 'potential investors' After the presentations the drinks session saw the presenting team members enjoying their wine in one corner with no attempt to mingle with or communicate with the small corp of private investors, many of whom had significant shareholdings. None of us were impressed . Presenting with no new news on resources or funding, sharing with 2 other companies on a wet and windy Feb evening just a PR no no. Not surprising no media coverage. The big question for you is where is gold production coming from in 2015, Sega running low, BOH not built and Yourre may start up in a small way ,but permitting issues still remain Yourre PEA late as all updates. Maybe good management team but with John and Peter holding the fort in London I can only come to the conclusion that they cannot cope with all the contractual and paperwork in a timely manner. Time for another executive to bolster the team?. Oh, if their is no gold in 2015 then any Samsung deal is in question Just my thoughts Have a good meting (michael frost)

Attended the meeting. Nothing new to report. Presentation as given in Capetown recently. All about value of resources but no info on funding for BOH or timescales for Yourre. Do not worry chaps, jam tomorow, well next 5 years perhaps.. Meeting was planned to promote Yourre PEA but unfortunately PEA has been delayed, due in next 3 weeks, but guess too late to postpone meeting. John was away so presentation given by Peter. A couple of questions about gap in production in 2015 but smoke and mirrors answer - we have many opotions Re share price. Disappointed that AMA valued as explorer rather than producer, but with possible looming production gap not surprising. 55 attendees, but only a handful of retail investors. Many suits, but 3 companies were presenting. Excellent post meeting wine, chillean savingon blanc, but food only nibbbles. Had dinner on return home at 1100. All in all a good meeting, AMA staff very welcoming, plenty of networking. But nothing to move the share price.. Next up the AGM